It is requested on the basis of the above facts to calculate the cost of the fixed assets and their depreciation for the year 2020 since the company estimates the use of the fencing property for the next 50 years and the use of the machinery for the next 10 years.
1.
10.1.2020 Purchase of land worth € 150,000 in cash. Payment of 3% transfer costs, 1% notarial costs and 0.5% settlement costs of the property (e.g. land registry). Payment of 2% for real estate and 1250€ for legal services.
31.01.2020 Payment of 10.000€ for earthworks for the improvement of land.
28.02.2020 Payment 21.000€ for land fencing
28.02.2020 Payment of € 500 to the accountant of the business as a monthly fee and registration in the books of the company of the above transactions.
01.03.2020 Payment for building construction by a technical company. The cost of the materials is 600.000€ while the fee of the technical company is 150.000€. Construction completed 30.08.2020. The building was delivered on 30.09.2020 where the company began its use.
01.11.2020 Payment for the import of machine A with an invoice value of 95.000€. The cost of transporting the machine to the factory amounted to € 2000, which was paid directly in cash the amount of € 1500. The intermediary bank withheld from ABC's account the amount of € 500 for its mediation in the introduction of the machine. For the connection and operation of the machine, ABC paid in cash to an electrician - mechanical engineer the amount of € 3000 who took a month for the relevant tests. The company for the purchase of the machine received a bank loan with bank charges and interest for 2020 5000 €.
01.10.2020 ABC manufactures non-waste for its own use. The cost of the materials amounted to 100.000€. The remuneration of theexternal engineer for the design and supervision was 20.000€. Of the technical staff of ABC, 4 employees were employed exclusively for 3 months with a total payroll cost including employer contributions and allowances of € 15,000. The construction period of the machine lasted a total of 3 months. Other fixed and variable expenses, Regarding the production of the machine, they amounted to € 25,000. The company spent 2000€ to advertise its customers its superiority in the industry due to machine B.
It is requested on the basis of the above facts to calculate the cost of the fixed assets and their depreciation for the year 2020 since the company estimates the use of the fencing property for the next 50 years and the use of the machinery for the next 10 years.
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not understood completely. how much is the total amount of each asset?
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